UPDATE 4-Icahn and Deason oust Xerox CEO; deal with Fujifilm at risk [Reuters]
Xerox Holdings Corporation (XRX)
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Source: Reuters
Icahn and Deason oust Xerox CEO; deal with Fujifilm at risk | Reuters 4 Min Read NEW YORK/TOKYO (Reuters) - Xerox Corp ( XRX.N ) said its CEO and most of its board will step down to settle a suit by activist shareholders Carl Icahn and Darwin Deason, handing over to new management which will reconsider a contentious deal with Fujifilm Holdings ( 4901.T ). The move is a triumph for Icahn and Deason, who together hold 15 percent of Xerox. They had criticized the $6.1 billion deal to combine the U.S. printer and copier maker into Fuji Xerox, an existing joint venture with the Japanese company. The two had already won a rare court order to temporarily block the deal, which they said undervalued Xerox. A New York judge last week agreed that CEO Jeff Jacobson had been “hopelessly conflicted” in negotiating a deal that would put him in charge, since he knew the board was looking to replace him. “We believe Friday’s decision and this agreement mark a watershed moment for corporate governa
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